Target Corporation operates as a general merchandise retailer in the United States. It offers apparel for women, men, young adults, kids, toddlers, and babies, as well as jewelry, accessories, and shoes; and beauty products, such as skin and bath care, cosmetics, hair care, oral care, deodorant, and shaving products. The company also provides food and beverage products comprising dry and perishable grocery, including snacks, candy, beverages, deli, bakery, meat, produce, and food service; electronics which includes video games and consoles, toys, sporting goods, entertainment, and luggage; bed and bath, home dΓ©cor, school/office supplies, storage, small appliances, kitchenware, greeting cards, party supplies, furniture, lighting, home improvement, and seasonal merchandise; and household essentials, such as household cleaning, paper products, over-the-counter healthcare, vitamins and supplements, baby gear, and pet supplies. In addition, it sells merchandise through periodic design and creative partnerships, and shop-in-shop experience; and in-store amenities. The company sells its products through its stores; and digital channels, including Target.com. Target Corporation was incorporated in 1902 and is headquartered in Minneapolis, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $104.8B | $8.3B | $3.7B | $2.8B | 22.9% | -1.7% | -9.4% |
| 2025 | $106.6B | $8.7B | $4.1B | $4.5B | 27.9% | -0.8% | -1.1% |
| 2024 | $107.4B | $8.6B | $4.1B | $3.8B | 30.8% | -1.6% | 48.8% |
| 2023 | $109.1B | $6.6B | $2.8B | $-1.5B | 24.8% | - | - |
| 2022 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 109,120 | 107,412 | 106,566 | 104,780 |
| Operating Revenue | - | 109,120 | 107,412 | 106,566 | 104,780 |
| Cost Of Revenue | - | 82,306 | 77,828 | 76,502 | 75,511 |
| Gross Profit | - | 26,814 | 29,584 | 30,064 | 29,269 |
| Operating Expense | - | 22,966 | 23,877 | 24,498 | 24,152 |
| Selling General And Administration | - | 20,581 | 21,462 | 21,969 | 21,535 |
| Total Expenses | - | 105,272 | 101,705 | 101,000 | 99,663 |
| Operating Income | - | 3,848 | 5,707 | 5,566 | 5,117 |
| Total Operating Income As Reported | - | 3,848 | 5,707 | 5,566 | 5,117 |
| EBITDA | - | 6,596 | 8,600 | 8,653 | 8,346 |
| Normalized EBITDA | - | 6,596 | 8,600 | 8,653 | 8,346 |
| EBIT | - | 3,896 | 5,799 | 5,672 | 5,212 |
| Interest Expense | - | 478 | 502 | 411 | 445 |
| Net Interest Income | - | -478 | -502 | -411 | -445 |
| Other Non Operating Income Expenses | - | 48 | 92 | 106 | 95 |
| Other Income Expense | - | 48 | 92 | 106 | 95 |
| Interest Expense Non Operating | - | 478 | 502 | 411 | 445 |
| Net Non Operating Interest Income Expense | - | -478 | -502 | -411 | -445 |
| Pretax Income | - | 3,418 | 5,297 | 5,261 | 4,767 |
| Tax Provision | - | 638 | 1,159 | 1,170 | 1,062 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Net Income From Continuing And Discontinued Operation | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Net Income | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Net Income Common Stockholders | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Net Income Including Noncontrolling Interests | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Normalized Income | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Diluted NI Availto Com Stockholders | - | 2,780 | 4,138 | 4,091 | 3,705 |
| Basic Average Shares | - | 462.10 | 461.50 | 460.40 | 454.10 |
| Diluted Average Shares | - | 464.70 | 462.80 | 461.80 | 455.60 |
| Reconciled Depreciation | - | 2,700 | 2,801 | 2,981 | 3,134 |
| Reconciled Cost Of Revenue | - | 81,991 | 77,442 | 76,050 | 74,994 |
| Net Income Discontinuous Operations | 0 | - | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 2,385 | 2,415 | 2,529 | 2,617 |
| Depreciation And Amortization In Income Statement | - | 2,385 | 2,415 | 2,529 | 2,617 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Target Corporationthis co. | TGT | $56.3B | 15.18β discount | 3.48 | 22.9% | 8.51 |
| Mondelez International, Inc. | MDLZ | $78.3B | 31.94 | 3.03 | 9.5% | 19.71 |
| Colgate-Palmolive Company | CL | $68.1B | 31.94 | 1261.04 | 3948.1% | 19.05 |
| Keurig Dr Pepper Inc. | KDP | $40.9B | 19.67 | 1.60 | 8.1% | 13.36 |
| Coca-Cola Europacific Partners PLC | CCEP |
| - |
| - |
| - |
| - |
| - |
| $40.7B |
| 20.98 |
| 5.20 |
| 24.8% |
| 13.40 |
| Archer-Daniels-Midland Company | ADM | $40.2B | 37.27 | 1.77 | 4.7% | 16.05 |
| The Kroger Co. | KR | $38.4B | 37.77 | 6.47 | 17.1% | 10.37 |
| The Hershey Company | HSY | $37.1B | 41.96 | 7.99 | 19.0% | 21.55 |
| Sysco Corporation | SYY | $35.6B | 19.45 | 19.43 | 99.9% | 11.84 |
| Peer Median | - | 31.94 | 5.84 | 18.1% | 14.73 | |